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2016-10-19 16:07:59

AGTC

Applied Genetic

16:07

10/19/16

10/19

16:07

10/19/16

16:07

Applied Genetic files IND for treatment of achromatopsia

Applied Genetic Technologies Corporation announced that it has filed an Investigational New Drug application (IND) with the FDA to conduct a Phase I/II clinical trial of the company's gene therapy product candidate for the treatment of achromatopsia caused by mutations in the CNGA3 gene. The company previously initiated a Phase I/II clinical trial of its gene therapy product for the treatment of achromatopsia caused by mutations in the CNGB3 gene.

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AGTCApplied Genetic

09/13/16

CANT

09/13/16DOWNGRADETarget $15CANTHold

Applied Genetic downgraded to Hold from Buy at Cantor

Cantor Fitzgerald analyst Mara Goldstein downgraded Applied Genetic Technologies to Hold after the company announced slower than expected enrollment for its gene therapy programs. The analyst cut her price target for the shares to $15 from $32. Wells Fargo and Janney Capital also downgraded Applied Genetic this morning.

09/13/16

ROTH

09/13/16DOWNGRADETarget $12ROTHNeutral

Applied Genetic downgraded to Neutral from Buy at Roth Capital

Roth Capital analyst Joseph Pantginis downgraded Applied Genetic to Neutral from Buy saying the company's clinical timelines/visibility have become cloudy. The analyst says it is "unfortunate that the moons are not currently aligned" for Applied Genetic's clinical programs for X-linked juvenile retinoschisis, or XLRS, and achromatopsia, or ACHM, based primarily on slow enrollment as well as a vendor error for study agent. He also lowered his price target on the shares to $12 from $34.

09/13/16

09/13/16DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Underperform from Neutral at Macquarie with analyst Tim Nollen saying market penetration could be limited given new streaming video on demand competitors and local operator's streaming efforts. 2. Intuit (INTU) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Keith Weiss citing full valuation. 3. Applied Genetic (AGTC) downgraded to Market Perform from Outperform at Wells Fargo, to Sell from Buy at Janney Capital, to Hold from Buy at Cantor, and to Neutral from Buy at Roth Capital. 4. Signet Jewelers (SIG) downgraded to Market Perform from Outperform at Cowen with analyst Oliver Chen saying he believes shares will be range bound despite the stock's cheap valuation. 5. Red Robin (RRGB) downgraded to Underperform from Buy at BofA/Merrill with the firm citing the difficult casual dining environment, lack of near-term catalysts, and risk to third quarter earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.